A Chinese online bank backed by smartphones and home appliances maker Xiaomi Inc [XTC.UL] is set to launch services soon, after being officially established and rebranded recently, according to one of the venture's investors. New Hope Group Co Ltd said in a statement on Tuesday shareholders and regulators had approved the name Sichuan XW Bank for the lender. WeBank, backed by Tencent Holdings Ltd, became China's first operational online-only bank in 2015, followed by MYBank, a venture controlled by Alibaba Group Holding Ltd affiliate Ant Financial Services Group.